Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of Portions of Public Street, Erven 7939, 10908   and Erf 7956 Cape Town, situated at Selwyn Terrace, New Market and Barron Streets, Cape Town, shown hatched and lettered ABCD, FGHJKLMNP and RSTU on the plan 130008638 marked annexure A attached to the report, in extent approximately ± 702m² & ± 24m² (in total ±726m²) respectively, to Hollyberry
Props 12 (Pty) Ltd or its successor in title, BE APPROVED subject to inter alia the
following conditions, that:
 
a)    A market rental of R13 800.00 per month inclusive of rates and excluding
        VAT calculated at the rate applicable at the time of transaction be payable;
 
b)    The monthly rental shall escalate at 6% per annum compounded annually
        commencing 2 months from date of the valuation, i.e. as from 01
        September 2022;
 
c)    The above recommended rental is effective and payable as from 01 September 2022
 
d)    The lease will endure for a period of 10 (ten) years; subject to a rental     
        review after a period of 5 years; PTMS014 SC report_v20 HOLLYBERRY
        PROPS 12 (PTY) LTD Page 4 of 15
 
e)    The property be used for building encroachment, parking, access and  security purposes only;
 
f)      Subject to such further conditions to be imposed by the Director: Property   Management in terms of his/her delegated authority;
 
g)    Subject to compliance with any other statutory requirements.
 
ACTION:N VANQA